The best target for a cyberthief is one that cannot afford to shut down. Hospitals fit that diagnosis. Ransomware continues to pummel healthcare organizations, disrupting patient care, posing threats to lives and draining millions of dollars from these organizations.
It is no surprise that 67 percent of all healthcare organizations were attacked in 2024, up from 60 percent last year. That is one of many findings in Sophos' latest threat survey, The State of Ransomware in Healthcare 2024.
Not having a plan for responding to ransomware can have deadly consequences. This reality puts pressure on hospitals to pay the ransom and free the data they desperately need.
Your Money or Your Data
Threat actors are doubling down on their ransomware attacks by trying to compromise backups, an experience suffered by 95 percent of respondents. In two-thirds of those attacks, the cybercriminals were successful. In fact, the healthcare industry suffered one of the highest rates of backup compromises, with only the energy, oil/gas, utilities (79%), and education (71%) sectors reporting higher rates.
The attacks can be extensive. Healthcare organizations report that about 58 percent of their computers were impacted by a ransomware attack, higher than the cross-sector average of 49 percent. About 73 percent of healthcare organizations will restore their data from back-ups when confronted with a ransomware attack. But the likelihood of paying ransom shot up to 53 percent of respondents, up from 42 percent last year. These figures overlap as the targeted enterprises will use multiple methods to recover.
Paying the ransom is never clear-cut. Only 15 percent of healthcare organizations paid the sum initially demanded; 28 percent paid less, while 57 percent paid more. On average, organizations paid 111 percent of the amount demanded by adversaries, averaging about $1.5 million. And recovery is not cheap. In 2024, the average spend to recover from an attack hit $2.57 million, up from $2.2 million last year.
A Good Defense Is the Best Prescription
Cybersecurity solutions from Sophos can address healthcare security challenges, ensuring uninterrupted operations and patient care. With Sophos security specialists monitoring the latest threats and solutions 24/7/365, healthcare organizations can rest assured knowing their IT environment and sensitive ePHI are secure wherever they reside. Sophos offers a range of technologies and services, including managed detection and response (MDR) services, endpoint protection, email security, firewalls, switches, Wi-Fi, and more.
For partners and MSPs managing healthcare companies, it’s essential that defenders and their cyber defenses keep pace with new and evolving attacks. Download the State of Ransomware in Healthcare 2024 to explore how Sophos can help you optimize your custoners’ ransomware defenses.